BTC finds stability at 2023 investor cost basis, echoing past cycle
Bitcoin is finding crucial support near its 2023 average realized price of $63,700, mirroring patterns from previous market cycles.Summary
Bitcoin recently established support around $60,000, effectively testing the 2023 average realized price, which sits near $63,700. This behavior is reminiscent of the 2023 bull run, where price repeatedly used that year's realized price as support during corrections. Looking at newer investors, those who bought in 2026 are currently underwater, as their average cost basis of $77,000 is below Bitcoin's current trading price above $70,000. Deeper historical support is indicated by the aggregate realized price, which represents the average cost basis for all circulating coins at approximately $54,360; this level has historically marked the bottom of major bear markets. If the current $60,000 support fails, the $54,000 realized price acts as the next critical historical floor.
(Source：CoinDesk)